STR: Preliminary June data for Jeddah hotels
Based on daily data from June, Jeddah reported the following in year-over-year comparisons:
- Supply: +8.7%
- Demand: +12.3%
- Occupancy: +3.2% to 72.5%
- Average daily rate (ADR): +16.1% to SAR1,383.14
- Revenue per available room (RevPAR): +19.9% to SAR1,002.29
STR analysts note that year-over-year comparisons were lifted due to fewer Ramadan dates in June 2018 than June 2017. At the same time, supply growth remains significant in the market, muting absolute occupancy levels.
STR will release full June results later this month. The May edition of STR's Market Forecast is available now for Jeddah and a host of other markets across the globe.
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